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Tech Leaders Congratulate Donald Trump on Presidential Election Victory

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Several high-profile tech CEOs extended their congratulations to President-elect Donald Trump and Vice President-elect JD Vance following Trump’s win in the U.S. presidential election. These statements, posted on social media, expressed support for Trump’s return to the Oval Office and emphasized a shared focus on technology advancement and economic growth.

Amazon
Jeff Bezos, Amazon’s founder and executive chairman, congratulated Trump in a post on X, calling his win an “extraordinary political comeback and decisive victory.” Although Bezos and Trump clashed during Trump’s first term over issues like Amazon’s tax practices and The Washington Post’s editorial stance, Bezos has recently adopted a more conciliatory approach. He praised Trump for his “courage under literal fire” after the attempted assassination attempt on Trump this past summer. Amazon CEO Andy Jassy also extended his congratulations, expressing hope to collaborate on issues impacting Amazon’s customers and employees.

OpenAI
OpenAI CEO Sam Altman wrote on X that he wishes Trump “huge success in the job.” Altman emphasized the importance of the U.S. maintaining its leadership in artificial intelligence and expressed optimism about continuing to develop AI aligned with democratic values.

Meta
Mark Zuckerberg, CEO of Meta, congratulated Trump on what he described as a “decisive victory.” Zuckerberg said he looked forward to working with Trump on shared opportunities and goals, despite their sometimes tense history, notably Meta’s suspension of Trump’s Facebook account in the aftermath of the January 6 events.

Tesla and X
Elon Musk, CEO of Tesla and X (formerly Twitter), was another vocal supporter. Musk has been a prominent backer of Trump’s campaign and contributed $75 million to America PAC, a pro-Trump political action committee he founded. Musk, who is expected to lead a government efficiency commission under Trump, celebrated the win, which sent Tesla’s stock surging by over 13%.

Alphabet (Google)
Sundar Pichai, CEO of Alphabet, Google’s parent company, offered his congratulations to Trump and expressed a commitment to working together on technology-driven initiatives.

Intel
Intel CEO Pat Gelsinger also extended his congratulations, stating that Intel looks forward to collaborating with Trump’s administration to advance America’s technological and manufacturing leadership. Intel, currently restructuring to regain its position in the global chip market, could benefit if Trump and the Republican Congress pursue an agenda that replaces the Biden-Harris administration’s CHIPS and Science Act.

Cisco
Chuck Robbins, Cisco’s CEO, wrote that his company is eager to collaborate on policies supporting “connectivity, innovation, and cybersecurity.” Robbins highlighted Cisco’s readiness to work with Trump and Congress on key technological issues.

Box and Dell Technologies
Box CEO Aaron Levie also congratulated Trump on his win, describing it as a “wild ride” and noting his optimism about America’s future growth trajectory. Michael Dell, CEO of Dell Technologies, added his congratulations on X.

This election victory has brought a chorus of industry leaders expressing hope for collaboration on economic policies that could impact technology, innovation, and global competitiveness, aligning with Trump’s focus on strengthening American industries.

 

Cisco Plans Second Round of Layoffs Amid Shift to High-Growth Areas

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Cisco Systems (CSCO.O) is set to initiate a second round of layoffs this year, with thousands of jobs on the line as the company pivots its focus to high-growth sectors like cybersecurity and artificial intelligence (AI), according to sources familiar with the matter. The layoffs, which could affect a similar or slightly higher number of employees compared to the 4,000 job cuts in February, are expected to be announced alongside the company’s fourth-quarter results, potentially as early as Wednesday.

Cisco, headquartered in San Jose, California, currently employs around 84,900 people, according to its July 2023 annual filing. However, this figure does not account for the February layoffs. The company has not yet responded to requests for comment.

The company’s shares dropped nearly 1% following the news of the impending layoffs, bringing its year-to-date decline to over 9%. Cisco, known as the largest producer of routers and switches that direct internet traffic, has faced challenges such as sluggish demand and supply chain issues in its core business areas. In response, the company has been diversifying its portfolio, notably through a $28 billion acquisition of cybersecurity firm Splunk, completed in March. This move aims to reduce Cisco’s dependence on one-time equipment sales by bolstering its subscription-based services.

In addition to expanding into cybersecurity, Cisco has been integrating AI into its product offerings. The company reiterated its goal of reaching $1 billion in AI product orders by 2025 and launched a $1 billion fund in June to invest in AI startups, including Cohere, Mistral AI, and Scale AI. Over the past several years, Cisco has made 20 AI-focused acquisitions and investments.

The upcoming layoffs are part of a broader trend in the tech industry, which has been aggressively cutting costs to balance significant investments in AI. According to Layoffs.fyi, a website that tracks job cuts in the tech sector, more than 126,000 people have lost their jobs across 393 tech companies since the beginning of the year. Earlier in August, chipmaker Intel (INTC.O) announced it was reducing its workforce by over 15%, impacting around 17,500 employees, as it sought to turn around its struggling manufacturing operations.

 

Cisco’s Acquisition Move: Isovalent, a Cloud-Native Networking and Security Startup, Set to Join Forces

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Cisco revealed its plan to acquire Isovalent, a cloud-native security and networking startup, aligning with the tech giant’s core networking and security strategy. Although the purchase price remains undisclosed, Isovalent has been instrumental in advancing open source technology, particularly with eBPF, offering profound insights into the operating system layer, including Linux and Windows. Their creation, Cilium, further enhances visibility into cloud-native applications, while Tetragon amplifies the company’s open source security visibility. Devamını Oku